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7h ago

CleanCore Raises $175 Million to Build Foundation-Backed Dogecoin Treasury as Shares Plunge 59%

Closing is targeted for Sept. 4 pending final approvals.

Cleancore in $175m deal to establish a dogecoin treasury; shares tumble 60%
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Overview

  • The PIPE raised $175,000,420 through $1 pre-funded warrants from more than 80 institutional and crypto-native investors including Pantera, GSR, FalconX, MOZAYYX, and Borderless.
  • House of Doge and 21Shares were tapped to oversee allocation, governance, and reporting for the new Dogecoin reserves.
  • CleanCore plans to hold DOGE as its primary reserve asset with proceeds also designated for general working capital.
  • Leadership changes include Alex Spiro as chairman and House of Doge executives Timothy Stebbing and Marco Margiotta joining the board and management.
  • Executives framed the structure as a step toward institutional adoption of Dogecoin, while the steep share decline highlighted investor skepticism toward the pivot.